Ukrtransgaz settled indebtedness to Eru Trading for supplied gas

July 18, 2019, Kyiv – JSC Ukrtransgaz and Eru Trading LLC fully have settled mutual obligations. The Company had paid to the gas supplier UAH 1.47 bln debt due to the Agreement on debt restructuring for fuel gas actually supplied for operational process. The supplier, for its turn, wrote off the penalties and confirmed absence of any causal link between Overseas Private Investment Corporation (OPIC) and the Government of Ukraine in respect of debt obligations.

Therefore, Ukrtransgaz and Eru Trading currently have no disputes and consider the mutual obligations fulfilled in their entirety.

It is worth reminding that following budget deficit in Ukrtransgaz caused by economically unjustified tariffs established for GTS Operator and also by unauthorized natural gas withdrawal from GTS by regional DSO (oblgases) being neglected by the Regulator (NEURC) result in company’s impossibility to meet suppliers’ and contractors’ payment obligations for fuel gas and transportation services.